Migdal Insurance & Financial Holdings Ltd. Sells 750,000 Shares of Talkspace, Inc. (NASDAQ:TALK)

Migdal Insurance & Financial Holdings Ltd. lessened its stake in shares of Talkspace, Inc. (NASDAQ:TALK) by 37.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,250,000 shares of the company’s stock after selling 750,000 shares during the period. Migdal Insurance & Financial Holdings Ltd. owned 0.75% of Talkspace worth $3,175,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of TALK. NVP Associates LLC bought a new position in Talkspace during the fourth quarter valued at approximately $8,973,000. Vanguard Group Inc. boosted its stake in Talkspace by 174.6% during the first quarter. Vanguard Group Inc. now owns 4,734,995 shares of the company’s stock valued at $8,239,000 after buying an additional 3,010,380 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Talkspace by 44.8% during the first quarter. Goldman Sachs Group Inc. now owns 5,081,589 shares of the company’s stock valued at $8,842,000 after buying an additional 1,571,383 shares during the last quarter. AWM Investment Company Inc. boosted its stake in Talkspace by 94.2% during the third quarter. AWM Investment Company Inc. now owns 2,287,724 shares of the company’s stock valued at $4,461,000 after buying an additional 1,109,876 shares during the last quarter. Finally, Alyeska Investment Group L.P. bought a new position in Talkspace during the first quarter valued at approximately $1,914,000. Institutional investors own 57.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Barclays upped their price objective on Talkspace from $2.50 to $3.00 and gave the company an “equal weight” rating in a research report on Friday, February 23rd. TheStreet upgraded Talkspace from a “d” rating to a “c-” rating in a report on Thursday, February 22nd.

Talkspace Trading Down 2.6 %

Shares of NASDAQ TALK traded down $0.08 during midday trading on Wednesday, hitting $2.95. The company’s stock had a trading volume of 532,712 shares, compared to its average volume of 1,253,515. The business’s 50 day moving average is $3.09 and its two-hundred day moving average is $2.47. Talkspace, Inc. has a 12-month low of $0.74 and a 12-month high of $3.92. The firm has a market cap of $498.27 million, a P/E ratio of -25.08 and a beta of 1.26.

Talkspace (NASDAQ:TALK) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.03. Talkspace had a negative return on equity of 16.06% and a negative net margin of 12.78%. The firm had revenue of $42.42 million for the quarter, compared to the consensus estimate of $38.30 million. During the same period in the prior year, the business posted ($0.08) earnings per share. On average, analysts predict that Talkspace, Inc. will post -0.03 earnings per share for the current fiscal year.

About Talkspace

Talkspace, Inc operates as a virtual behavioral healthcare company in the United States. The company offers psychotherapy and psychiatry services through its platform to individuals, enterprises, and health plans and employee assistance programs. It provides text, audio, and video-based psychotherapy from licensed therapists.